February Home Sales in Cincinnati
February Home Sales in Cincinnati
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February single-family home sales Greater Cincinnati not impacted by virus scare…. yet!
February closings reflect sales from December and January. The market jitters and unease about the coronavirus is having a ripple effect on the local real estate market.
Agents are dealing with anxious buyers backing out of deals after waiting months to find their dream home. It’s not every deal-but the uncertainty will most likely show up with slower sales in March ( with fewer closings in April). Only time will tell if lower interest rates will combat the pandemic impact.
The median sale price rose +0.1% compared to February 2019 and down -0.3% from last month. The average sale price was up +0.3% from February 2019 and down -1.3% from last month.
Prices
The number of new listings increased by +59.5% from last month. And down -1.5% compared to January 2019.
Inventory
The total inventory of properties for sale as of February was down -8.7% from last month and down – 29.8% from February 2019. Contributing to the “seller’s market” February property sales were up +6.1% from February 2019 and up +15.4% from last month.
Market Time
The average Days on Market (DOM) for February was 45 down -2.2% from last month and down -8.2% from February 2019. It’s still considered a seller’s market.
February numbers show gains in all the counties but Butler. Single-family home sales volume for the 4 counties. Data pulled from the CincyMLS.
The average sale price for single-family home sales continues to appreciate.
| 2019 | 2020 | |||
| # Sold | Average Sales Price | # Sold | Average Sales Price | |
| MLS | 2407 | $214,871 | 2590 | $222,101 |
| Butler | 486 | $209,232 | 517 | $205,498 |
| Clermont | 279 | $218,631 | 283 | $223,184 |
| Hamilton | 1056 | $217,865 | 1156 | $223,989 |
| Warren | 302 | $278,981 | 304 | $308,237 |
For in-depth reports on sale prices in your neighborhood-send a request for a full market evaluation? Anything else – Call/Txt
